Copenhagen-based Saxo Bank has launched TradingFloor.com, a new portal combining social features with its trading platform in a move to create a new online social trading community to enable traders around the world to share their trades with peers. Investors using the TradingFloor.com platform will be able to share their trades on options, futures, exchange-traded products, bonds and contracts-for-difference, among other instruments, in a community where all performance data is verified so traders can be sure of the performance of the people they choose to follow or be copied in to.
Saxo Bank’s co-founders and co-CEOs Kim Fournais and Lars Seier Christensen said in a joint statement that the bank is the first major player in the financial world to move into multi-asset online social trading. “We want to set free the peer-to-peer power of traders around the globe by enabling them to connect online with experienced and like-minded investors who are tired of input from salespeople from traditional banks,” they said.
Fournais and Christensen believe the new social derivatives platform it will open up the otherwise closed world of trading.“Having revolutionised online trading as a first mover in 1998, we now want to democratise access to trading and fund management ,” they said. “We are now enabling investors to share their trades openly, interact with each other, post comments and strategies, discuss ideas, follow and copy each other. We believe that this may radically change how investors will go about trading FX, CFDs, options, futures, bonds and equities in the future, making trading a social experience.”
TradingFloor.com provides access to what the best participating traders are doing with their own money in any asset class. “We are deliberately only featuring real traders with real accounts trading their own money to ensure a social trading community of serious investors,” Fournais and Christensen said. The site also features a range of content for traders, such as market news and views, data, insights and trade ideas from Saxo Bank’s research teams. A real-time trade stream will also reveal current market sentiment.